Here's How Long It Will Take to Get a Mortgage. Youâre scrolling the online listings, looking for houses, when â boom â the love of your real estate life pops out from the page. Youâve found the perfect home, with the best imaginable location, layout, size, finishes, and price.
A. As the property is a commercial property and the vendor is registered for GST the sale of the property to you will be a taxable supply.In that case, GST will be either nothing or charged at 12.5 per cent.ou could claim a GST deduction on the purchase price of an untenanted commercial property if you acquired it for the principal purpose of making taxable supplies and registered for GST.
You will not pay Capital Gains Tax (CGT) on the whole of your gain from the disposal of an asset as everyone is entitled to an annual allowance or exemption against any CGT. For tax year 2014/15 this exemption is Â£11,000.The CGT exemption means you can take the first Â£11,000 of any CGT calculated without paying any tax on it. If you have made a number of disposals in a tax year and there is a mix of losses and gains you will need to report the losses and the gains to HMRC.here are effectively three rates for Capital Gains tax, 18% this applies to chargeable gains up to the basic rate tax threshold, 28% for gains falling in to the higher rate tax threshold and 10% for any gains qualifying for Entrepreneurs Relief.